Release Date: 17 February 2016
Senex Energy Limited (Senex, ASX:SXY) expects to recognise the following significant items in its 2016 half year accounts:
- Gain on sale of the Maisey block of approximately $38 million after tax following completion of the transaction with GLNG in December 2015; and
- Non-cash impairment charge of approximately $70 million after tax on certain of the Company’s longer-dated Cooper Basin exploration assets.
The gain on sale of the Maisey block delivers material value to shareholders and is the result of the latest in a series of strategic transactions that Senex conducted in the Surat Basin with neighbouring CSG producers QGC and GLNG. In December 2015 Senex received a cash settlement of $42 million and a suite of valuable technical and operating data from GLNG in exchange for the sale of the Maisey block.
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